On leadership and accountability, Mr Wolfowitz stressed the need to address corruption and to strengthen checks and balances on governments, including civil society groups and the free press.

"We know that sustained economic growth is essential for development and reducing poverty," he said, adding that there was a range of factors affecting growth that was too often discounted or dismissed as "soft".

"Sustainable development depends as much on leadership and accountability, on civil society and women, on the private sector and on the rule of law, as much as it does on labour or capital," he said.

He stressed the importance of improving women's access to education, health and credit, adding that civil society groups had an important role to play in building a bridge between citizens and their governments. Strengthening the rule of law and judicial institutions was also crucial for encouraging increased investment in developing countries.

Mr Wolfowitz said he was encouraged by signs of improving leadership in Africa. "Africans are stepping up to their responsibilities and taking charge of their future. A new generation of African leaders is setting examples by stepping down when their terms of office end or when they are voted out."